PANews
PANews|Sep 22, 2025 07:18
SOOHO.IO and Chainlink promote the development of the Korean won stablecoin ecosystem South Korean blockchain technology company SOOHO.IO has teamed up with Chainlink to launch the "Project Namsan" project, aimed at building a Korean won stablecoin ecosystem. The project has launched a pilot activity for foreign tourists, where participants can deposit US dollar stablecoins to exchange for digital payment vouchers denominated in Korean won, reducing payment costs by more than 30% compared to traditional foreign exchange channels. This project utilizes Chainlink's Cross Chain Interoperability Protocol (CCIP) to connect multiple public and private chains, and continuously verifies stablecoin reserves through Chainlink's Proof of Reserve technology to ensure that Korean won payment vouchers are only issued after stablecoin settlement verification, achieving a transparent and reliable delivery payment model (DvP). CCIP adopts a deep defense security model, with its consensus layer supported by Chainlink's decentralized oracle network (DON), which has protected over $100 billion in DeFi lock up value since 2022 and facilitated billions of dollars in on chain transactions. This pilot project has been carried out in cooperation with the South Korean public enterprise Grand Korea Leisure (GKL) since July this year. GKL's foreign exclusive casino "Seven Le" receives about 1.5 million international tourists annually and has branch offices in major tourist destinations such as Gangnam COEX.
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